Carpenters Insurance in Victoria

Victoria carpenters insurance requirements

To legally operate as a carpenter in Victoria, you generally need a licence if you’re contracting for projects over $10,000, or a Domestic Builder – Carpentry licence for managing residential projects.

There are no specific insurance requirements for carpenters and joiners in Victoria. However, you must take out domestic building insurance under the Building Act 1993 if the value of the work is $16,000 or over.

That said, it’s a good idea to have business insurance if you’re a carpenter or a joiner because it can help to protect your business, finances and reputation if something goes wrong on the job.

Insurance for carpenters and joiners in VIC

Find out more about some of the more common policies often taken out by carpenters and joiners in Victoria.  

Public Liability insurance

Public Liability insurance covers legal fees and compensation costs if a customer, member of the public, or a supplier claims against you for injury or damage to their property as a result of your alleged negligent business activities. For example, say an accident damaged a supplier’s ute, or a commercial client tripped over an unsecured cord.

Professional Indemnity insurance

Professional Indemnity covers you for losses claimed by a third party and defence costs due to alleged or actual negligence in your professional services or advice. This includes defence costs cover. This can be useful for tradespeople, like carpenters and joiners, who are frequently asked to give professional advice or guidance.

Personal Accident & Illness insurance

Are you a self-employed sole trader? If you’re injured or become ill, Personal Accident and Illness insurance can provide a weekly income benefit for a set amount of time. Personal Accident and Illness insurance can help to give you peace of mind while you rest and recover before getting back on the tools.

Portable Equipment insurance

As a tradie, you rely on your tools to get the job done. So what would happen if your tools were damaged or stolen? Portable Equipment insurance covers you for loss and damage to your tools and stock due to theft, fire and other perils listed in the wording.

Carpenters insurance cost in Victoria

There is no single product known as “carpenters insurance”. This term generally refers to the common business insurance policies that chippers tend to take out.

On overage, the insurance cost for carpenters in Victoria is $76 per month*. However, the premium can vary based on factors like business size, services offered, and coverage limits. The best way to find out how much you’ll pay is to compare insurance quotes through BizCover. It’s fast, simple and easy.